Platinum pricing chaos impacting manufacturers

Platinum prices plummeted in April, with the precious metal losing nearly 10% of its value in just two days. The sharp decline could hit jewellery manufacturers as volatile base metal prices make it difficult to price pieces.

Due to high mark-ups, the design-led market will be less affected by fluctuating platinum prices, but Johnson Matthey’s Neill Swan said that wedding band manufacturers could be at risk. “Wedding bands are closer to a commodity,” he explained.

Some manufacturers have tried to implement price band structures to help stave off the effects of fluctuating prices. However, the quick pace of price changes has meant that companies are faced with moving bands several times a week